Personal Consumption Expenditures (PCE) inflation update

This morning (6/1/09) the Bureau of Economic Analysis (BEA) released the April Personal Income report. Below is a 5 year chart of the headline and core PCE inflation rate. In April, the headline rate fell to +0.44% year-over-year and the core rate rose to +1.89% year-over-year. One thing is very obvious from this chart nobody should be worried about inflation right now. In fact, if you were an FOMC member, you would be doing your best to generate inflation based on the latest figures.


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